The so-called external debt crisis involves those developing countries with a chronic imbalance in their external sector or with fundamental shortcomings in their system for generating productive capital. Besides the social and political problems caused directly or indirectly by the external debt, so too a vicious circle of domestic economic problems is generated including inflation, insufficiency of internal savings for investment in productive facilities and resulting obsolesrence of these facilities. The set of financial demands which capital-exporting creditor countries are able to impose on the chronic debtors in the developing world constitute a modern, efficient and insidious tool for domination and dependency.


Debt Crisis External Debt Debtor Country Military Government Southern Cone 
These keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.


Unable to display preview. Download preview PDF.

Unable to display preview. Download preview PDF.


  1. 2.
    Carlos Portales, ‘Seguridad Regional en Sudamerica. Escenarios prospectivos’, in Augusto Varas (ed.), Paz, Desarme y Desarrollo en America Latina (Buenos Aires, Argentina: Grupo Editor Latinoamericano, 1987) p. 362.Google Scholar
  2. 3.
    Kendall W. Stiles, ‘Argentina’s Bargaining with the IMF’, Journal of Interamerican Studies and World Affairs, Vol. 30 (1988) pp. 82, 81.Google Scholar

Copyright information

© Michael A. Morris 1990

Authors and Affiliations

  • Ricardo Alagia

There are no affiliations available

Personalised recommendations